LCC makes U-turn on Lekki/Ikoyi toll hike

Lekki Conservation Company (LCC)  says it will no longer increase the fares on the toll gate at the Victoria Island end of the Lekki-Epe and Ikoyi link bridge.

LCC had issued a statement to announe its plan to hike tariff on both tolls, effective from January 2018.

Mohammed Hassan, managing director of LCC, had said the “current business realities and increasing cost of operation” gave rise to a planned review.

“The toll review has…become necessary to enable the company meet its loan obligations to its local and foreign lenders, considering the fact that foreign exchange rates have continued to increase astronomically in the last couple of years,” Hassan said.

“LCC cannot continue to operate or provide the services required from us if we do not review the toll tariffs.”

However, the company has renounced its previous statement, saying it has a new position on the proposed toll hike.

“There is already an embargo on it (press statement) and it does not represent the position of the LCC any longer,” PRM Africa, an outfit which issued a statement on behalf of the company said.

“We will communicate the updated and accurate position to you shortly.”